Accounting Module :  Accounting is one of the most vital and important modules of Odoo ERP. Accounting is tightly bound with Sale, Purchase, Inventory, and Manufacturing. Businesses can use Odoo accounting to maintain all the records and analysis of the operations of the inventory. Odoo accounting module is capable of your bill tracking, inventory management, and project management.

The best open source ERP, Odoo ERP is the very best choice when it comes to managing accounting. With its advanced features and user-friendly tools, accounting can be managed effectively and efficiently.

It helps you fulfill all your accounting needs like payments and invoices, bank reconciliations, reports and much more. The standard accounting functionality built into an out-of-box application from Odoo accounting module covers all areas of accounting. Odoo accounting can handle a variety of complexities of accounting modules. The best part is the ease of use and recording of transactions in the ledger is simple to understand.

Main and most important Accounting Concepts : 

• Double entry book-keeping
• Accrual and cash basis methods
• Multi Companies
• Multi Currencies
• International Standards
• Accounts receivable and payable
• Wide range of Financial Reports
• Import Bank Feeds Automatically
• Calculate the Tax you owe your tax Authority
• Inventory Valuation
•  Easy Retained Earnings

In this blog I will explain to you how to handle customers in the Accounting Module.

When you open the Accounting Module you can see the dashboard of this. For reference you can see the screenshot below.

On the Accounting Dashboard you can see the various tabs such as Dashboard, Customers, Vendors, Accounting, Reporting and configuration. For reference you can see the above screenshot.

Customers :  When you click on the customer tab you can see the various tab categories in the Customer tab. For reference you can see the screenshot below. 

Invoices : Invoice is the bill or the list of products purchased by a customer and the charges for the product or service. You can find this invoice in the Customer tab from the accounting module. When you click on the Invoice tab, you can see the list of invoices which are already created. For reference you can see the screenshot below. We also have an option to upload an invoice.

Now I will click on the highlighted invoice as you can see in the above screenshot.

From the above screenshot you can see the invoice. From the “edit” button you can edit the invoice if you need some changes in that. 

From the “create” button you can create a new invoice by filling the entry in fields. Create button gives us Invoice form where we can add the customer details and delivery address. Sometimes we may be using the same address for both. But it can also be different. We have to provide invoice date, due date, journal details, currency..etc here. 

Then below the invoice lines we can add the product and other details like product label, account, analytic account, analytic tag, intrastat, quantity, unit of measure, price, taxes etc. We can also find the subtotal here. 

Once created we can use the confirm button.

From the “send and print” button you can send this invoice to the customer. For reference you can see the screenshot below.

From the “Preview” button you can see how it will look when you will send this to the customer. For reference you can see the screenshot below.

From the “add credit note” you can add the credit note here also. For reference you can see the screenshot below.

From the “reset to draft” you can send this to draft.

Credit Note : Credit note is a memo or letter sent to a customer by a seller to alert the customer about the crediting of some amount in customers’ account. Credit note is created if the vendor pays back some money to the customer due to some errors in the already created invoices or you offer some reduction to the customer.

When you click on the credit note from the Customer tab you can see that Credit Note is opening. But right now there is no credit note created so you can create a new one with a credit button as you can see in the screenshot below.

When you click on the create button, you can see the form will popup. You can fill the details in fields and then save this.

Payments : This function allows us to make payments. When you click on Payments from the Customer tab, you can see the list of payments which are already created. For reference you can see the screenshot below.

You can edit this also if you need some changes. And you can also create a new payment slip with the create button. When you click on the “Create” button you can see the form will open and you have to fill in the details and then save the payment slip. This form has a payment type. We can also add customer type, customer details, destination account amount, date, memo number, recipient bank account details etc. also here.. For reference you can see the screenshot below.

Follow-Up Reports : Follow-up report allows us to submit some additional information. It can be a supplementary report to the initially created report. You can find this in the Customer tab from the accounting module.

You can find the invoice details, date, due date, communication detail, etc. in the follow up reports. 

Products : A customer will always be purchasing a goods or service. So the user can create or manage the product from here. The process is the same as the product creation. When you click on the Products from the customer tab you can see the list of products which are already created. For reference you can see the screenshot below.

When you click on the highlighted product you can see the form will open. You can edit this form if you need some changes in it. And you can create new products also with the help of the create button. For reference you can see the screenshot below.

Customer : Creating and managing customer databases in an efficient way helps the growth of the business. Odoo Accounting module enables the accounting team to manage the list of key customers or loyal customers so that we can manage credit notes, invoices or debit mandates easily just by choosing the name of the customer.

When you click on the customer from the customer tab of Accounting module, you can see the name of customers which are already created.